Sep 21, 2012
OTC Disclosure News Service
Sydney, NSW, Australia –
On 7 June 2012, New Guinea Energy Limited (NGE) was pleased to inform shareholders that Oil Search (PNG) Limited (OSH) had announced the spudding of Trapia-1 within PRL 11, a licence held by OSH and Esso Highlands Ltd.
On Thursday, 20 September 2012, OSH announced the results of the drilling and a copy of OSH’s announcement can be found on OSH’s website at www.oilsearch.com.
The outcome of the drilling of Trapia-1 does not impact NGE’s signed agreements with OSH and Esso PNG Exploration Ltd in relation to PPL277. The PPL277 transaction remains subject to a number of conditions precedent, including Ministerial approval and licence specific conditions.
Chief Executive Officer
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